Last $60.18 USD
Change Today +0.18 / 0.30%
Volume 32.1K
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As of 8:04 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

rogers corp (ROG) Key Developments

Rogers Mulls Acquisitions

Rogers Corporation (NYSE:ROG) is looking for acquisitions. President and Chief Executive Officer, Bruce Hoechner stated, “As we have discussed, Rogers is actively pursuing an acquisition strategy that is aligned with our current businesses. Our business processes and systems optimization projects, the Rogers Work Smart Initiative, are preparing us for integrating potential acquisitions through standardized systems and processes. We remain committed to our investments in operational improvements across the organization.”

Rogers Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter of 2014 and Capital Expenditure and Tax Rate Guidance for the Full Year of 2014

Rogers Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net sales of $153,495,000 compared to $132,452,000 a year ago. Operating income was $16,219,000 compared to $8,107,000 a year ago. Income before income tax expense was $16,485,000 compared to $7,862,000 a year ago. Income from continuing operations was $10,902,000 or $0.58 per diluted share compared to $5,583,000 or $0.32 per diluted share a year ago. Net income was $10,902,000 or $0.58 per diluted share compared to $5,565,000 or $0.32 per diluted share a year ago. Capital expenditures were approximately $8.1 million. Diluted earnings per share grows 9.4% from a non-GAAP $0.53 in 2013 to $0.58 in 2014, with operating income earning $0.14. Cash flow from operations in the quarter was $11.9 million For the six months, the company reported net sales of $300,135,000 compared to $258,432,000 a year ago. Operating income was $37,677,000 compared to $18,922,000 a year ago. Income before income tax expense was $36,980,000 compared to $17,712,000 a year ago. Income from continuing operations was $25,482,000 or $1.37 per diluted share compared to $12,560,000 or $0.71 per diluted share a year ago. Net income was $25,482,000 or $1.37 per diluted share compared to $12,662,000 or $0.72 per diluted share a year ago. Capital expenditures were approximately $10.3 million. The company projects third quarter 2014 net sales to be between $153 to $159 million with net income from continuing operations of between $0.65 and $0.75 per diluted share. The company reported that capital expenditures are expected to total approximately $25.0 million for the year 2014. The company currently projects its effective tax rate for 2014 will be approximately 29%.

Rogers Corporation, Q2 2014 Earnings Call, Jul 30, 2014

Rogers Corporation, Q2 2014 Earnings Call, Jul 30, 2014

Rogers Corporation Revised Earnings Guidance for the Second Quarter Ended June 30, 2014

Rogers Corporation revised earnings guidance for the second quarter ended June 30, 2014. Rogers now expects that it will report all-time quarterly record net sales from continuing operations of $153.5 million for the period as compared to the April 29, 2014 guidance of $143 to $148 million. Earnings per diluted share from continuing operations for the second quarter 2014 are expected to be approximately $0.55 to $0.58 compared to the previous guidance of $0.68 to $0.76 per diluted share. These revised unaudited earnings estimates are primarily the result of increased selling, general and administrative (SG&A) expenses of approximately $6 to $7 million and a higher than anticipated effective tax rate.

Rogers Corporation to Report Q2, 2014 Results on Jul 29, 2014

Rogers Corporation announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 29, 2014

 

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ROG

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Valuation ROG Industry Range
Price/Earnings 21.7x
Price/Sales 1.9x
Price/Book 1.8x
Price/Cash Flow 21.7x
TEV/Sales 1.4x
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